To try and understand the factors which influence student satisfaction in higher education, as well as consequences of it, this study tests an explanatory model of student satisfaction in higher education. The model was tested through the utilization of structural equations and showed that the variable which has the most influence in student satisfaction in higher education is the variable – image followed by value and afterwards quality perceived. The conclusions of this study also mention the existence of a negative influence from the variable – expectations. It was also noticeable that the main consequence of satisfaction was student loyalty caused by word of mouth from student to student.

Purpose – The objective of this paper is to collate and debate the main issues driving the stakeholder theory academic debate. Design/methodology/approach – First, a discussion of the stakeholder concept is set out before moving on to the history and nature of stakeholder theory. The work proceeds with an attempt to bring together systematically the points of divergence among researchers interested in stakeholder theory, and, finally, there is a brief discussion of these theoretical loopholes in conjunction with a proposed research agenda for the field. Findings – Based on the unification of the theoretically problematic issues, research agenda are put forward with the objective of clarifying doubts and resolving the controversies ongoing among academics. As regards the formulation of stakeholder theory, one question requiring resolution is that of the stakeholder concept itself. Additionally, further research should focus on the boundaries as to what constitutes a stakeholder group as well as defining the criteria for attributing individual membership of one or another group. In practical theoretical application, it is correspondingly necessary to target research on aspects such as conflicts of interest between stakeholders and management difficulties in coping with multiple objectives. Finally, there is a need for research that systematizes the knowledge produced with the objective of attaining the theoretical convergence necessary for the development of stakeholder theory. Originality/value – The main contribution of this paper derives from the systematization of the various shortcomings that need overcoming within the framework of stakeholder theory and the identification of research agendas.